Rajesh Power Wins ₹653 Crore PGVCL Contract

Rajesh Power Services Limited has won a major contract worth ₹653.12 crore from Paschim Gujarat Vij Company Limited (PGVCL). The project involves converting existing 11kV high tension and low tension lines into an underground cable network in Gujarat.

The company will establish a ring main system with GIS mapping and asset tagging in Bhavnagar, Anjar, Junagadh, and Porbandar Circles. The contract is a turnkey project, meaning Rajesh Power Services will handle all aspects from design to completion.

The project is expected to be completed within 18 months from the date of award. The contract value includes all applicable taxes and is a significant addition to the company's current project pipeline. It is expected to contribute to the company's revenue in the coming fiscal periods.

Rajesh Power Services confirmed that the order was received in the normal course of business and does not involve any related party transactions. The company's promoter and promoter group do not have any interest in PGVCL.

This order is a substantial expansion of the company's power infrastructure order book and is expected to have a positive impact on its financial performance in the coming years.

The project will be executed by Rajesh Power Services, which has a strong track record of completing power infrastructure projects in India. The company's expertise in designing and executing complex power projects will be utilized to complete this project within the stipulated timeline.

The contract award is a significant development for Rajesh Power Services and is expected to boost the company's growth prospects in the power infrastructure sector.